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A company earns before-tax profits of $100,000. It has agreed to contribute 10 percent of its after-tax profits to the Red Cross Relief Fund. It must pay a provincial tax of 5 percent of its profits (after the Red Cross donation) and a federal tax of 40 percent of its profit (after the donation and provincial taxes are paid). Use Cramer's rule to determine how much the company pays in provincial taxes, federal taxes, and Red Cross donation. {Hint: Let C, P, and F represent the amounts of the charitable donation, provincial tax, and federal tax, respectively. Since after-tax profits are $100,000-(PHF), therefore: C = 0.1 [100,000-(P+F) ]. Use the other pieces of information given in this question to write two other equations, one for P and one for F. Now solve these equations simultaneously using Cramer's rule.)
If the investor reinvests the annual returns paid on the investment, calculate the annual return on the mutual funds over the two-year investment period.
Salem realizes the importance of being a good corporate citizen and makes general contributions to worldwide charitable organizations. For 2009, Salem wants to contribute $1,500,000 to various charities. Based on 2008 tax laws, if Salem’s taxable inc..
Would you recommend a project that has a net investment at time 0 of $15,500 and a single net cash flow of $28,600 at the end of the fifth year if the required rate of return is 12.5%?
Comparing Cash Flow Streams [LO 1] You’ve just joined the investment banking firm of Dewey, Cheatum, and Howe. They’ve offered you two different salary arrangements. Present value $ What is the present value of the second option? (Enter rounded answe..
Prepare a pro forma income statement for the first twelve (12) months of your business. Include the assumptions on which it is based.
Bob and Carol Gibbs are set to move into their first apartment. Calculate cash down payment for loan. What is cost of the cash alternative at the end of 2 year.
Determine the effect of the following factors on changes in currency exchange rates, providing examples using the rate of exchange between two currencies.
Calculate the NPV and IRR of each. Are they acceptable?
A $1,700 face value corporate bond with a 5.6 percent coupon (paid semiannually) has 12 years left to maturity. It has had a credit rating of BBB and a yield to maturity of 7.9 percent. The firm has recently gotten into some trouble and the rating ag..
In concept, the RAROC measure indicates a loan is acceptable if the RAROC is greater than the
Capital market transactions only include preferred stock and common stock transactions. If General Electric were to issue new stock this year it would be considered a secondary market transaction since the company already has stock outstanding. Both ..
The EBIT, Depreciation, and tax rate of a firm are $20 million, $2 million and 35% respectively. Its sales rise $5, and its inventory ratio to sales is 40%, while its accounts receivable to sales is 45%, and its accounts payable to sales is 35%. We a..
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